Solana Network Adds 10 Million New Wallets Daily Amid Price Weakness
Solana's network is adding approximately 10.2 million new wallet addresses daily despite its token trading near $115 amid persistent selling pressure and recent exchange-traded fund outflows.
This growth comes as Solana (SOL) struggles to sustain rebounds, including a brief lift in sentiment following the release of Telegram CEO Pavel Durov after his arrest.
Data shows that spot Solana ETF flows turned negative on Thursday, recording $2.2 million in outflows, marking the first daily decline after a week of trading sessions.
Rising new addresses during bearish phases have historically preceded price recoveries in past Solana cycles, with new participants absorbing supply from short-term sellers and creating conditions that can stabilize prices over time.